In the first half of this year, Korea’s automobile exports surged 46.6 percent year on year to US$35.7 billion, a record high. Including auto parts, the figure reached US$47.3 billion.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 17, Korean automakers exported more than 241
The K-Ricebelt initiative, aimed at increasing rice production in Africa by disseminating Korean rice seeds and agricultural technology, has officially begun.The Ministry of Agriculture, Food and Rural Affairs held the K-Ricebelt Ministerial Meeting at the JW Marriott Hotel in the Seocho district of
NEOPLY, a subsidiary of NEOWIZ HOLDINGS Corporation, announced on July 10 that it has been selected as a business to be supported by the Innovation Program of the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE).With the support of ADIO, NEOPLY established a local subsidiary in A
Overseas construction orders for Korea-based companies hit the highest level in five years in the first half of 2023. Hyundai E&C led the way, winning a US$5 billion plant project in Saudi Arabia late last month.Overseas construction orders to Korea totaled US$17.3 billion in the first half of 2023,
Overseas plant orders to Korean companies increased by more than 40 percent year on year in the first half of 2023. This is due to increased orders, including those for petrochemical facilities from the Middle East.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 6, overseas p
The Korea Gas Corporation (KOGAS) is set to participate in a US$7 billion (9.2 trillion won) gas development project in Mozambique, Africa.The project, dubbed the Mozambique Area 4 Coral North Floating Liquefied Natural Gas (FLNG) project, is a follow-up to the Coral South FLNG, which KOGAS had prev
Huawei has shown up in full force for MWC Shanghai 2023, with their activities all falling under their theme of "GUIDE to the Intelligent World". This year, the company's activities include an experiential tour that takes audiences to multiple cities to learn about their technology and business,
HD Hyundai’s shipbuilding subsidiary, Hyundai Vietnam Shipbuilding (HVS), has recently received orders for two petroleum product carriers (PC vessels) from an African shipping company, bringing its cumulative total to 199 ships over 15 years since entering the shipbuilding business.Founded in 1996 a
Recently, the won-dollar exchange rate has fluctuated the most among major currency exchange rates. This sharp change in the value of the won has been blamed on Korea’s trade deficit.According to the Bank of Korea (BOK)’s June Monetary and Credit Policy Report, the rate of changes in the won’s excha
Fairtrade Korea proudly participated in the highly anticipated 41st edition of Seoul Food, held at KINTEX in Goyang, Gyeonggi-do, from May 30 to June 2, 2023. The event, hosted by the Korea Trade-Investment Promotion Agency (KOTRA), witnessed a significant increase in awareness among domestic compan
Japan is pushing to build a global supply chain alliance to take the initiative in the secondary battery industry by 2030. It laid out an ambitious plan to become the center of secondary battery development and production in partnership with the United States, the European Union and the world’s majo
Pernod Ricard Korea, the Korean unit of the wine and spirits company Pernod Ricard, announced on June 5 that it will operate the Drink More Water campaign in Korea as part of the Pernod Ricard Group’s promotion of responsible drinking across Asia.Pernod Ricard Group has been busy implementing the fo
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company’s CEO, Jaeyong Ahn presented methods for equitable access of vaccine in the world at the Regionalized Vaccine Manufacturing Collaborative (RVMC) Side
With a 100% user recommendation rate and a full score of 5.0 based on 214 reviews, Huawei was recognized a 2023 Customers' Choice in the Gartner Peer Insights™ Voice of the Customer for Primary Storage for its OceanStor Dorado all-flash storage.As part of the evaluation process, Huawei OceanStor
HD Hyundai Energy Solutions, a solar subsidiary of HD Hyundai, announced on May 22 that they have signed a contract with Portugal's MCA to supply 22 MW of solar modules.Under this contract, HD Hyundai Energy Solutions will supply high-output 500 W modules by August of this year and MCA plans to
HD Korea Shipbuilding & Offshore Engineering (KSOE) announced on May 19 that it has signed a contract on the construction of two petrochemical carriers (PCs) with an African shipping company. The order is 117.3 billion won (US$88.51 million). The ships will be built by Hyundai Mipo Shipbuilding and
The rapid growth of the electric vehicle market and a sharp increase in sales of the three Korean battery makers are bringing big profits to Chinese companies that dominate the market for key battery materials such as lithium. Korean battery makers depend on Chinese companies for close to 90 percent
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.We continue to recommend KOGAS and KEPCO KPS in May on city gas tariff hike and 1Q23 earnings expectations, respectively. Nuclear plays are likely to perform sluggishly due to the end of the US-Ko
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Korean President Yoon Suk-yeol’s visit to the US should serve as a catalyst to strengthen the two countries’ SMR partnership. Elsewhere, SMR developer Holtec has signed an SMR deal with Ukraine’s E
The Bank of Korea announced that KRW’s value vis-à-vis USD fell 7.4 percent in February, when the average value of 34 currencies fell 3 percent in relation to USD. A full 40 percent of the 7.4 percent decline is attributable to South Korea’s trade deficit.“The volatility of KRW is on the increase th